Trane Technologies (NYSE:TT) Rating Reiterated by 888

Posted by Defense World Staff on May 8th, 2023

888 reiterated their maintains rating on shares of Trane Technologies (NYSE:TT – Get Rating) in a research note published on Thursday, Benzinga reports.

Several other equities research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft cut their target price on Trane Technologies from $184.00 to $183.00 and set a hold rating on the stock in a research note on Wednesday, April 12th. Mizuho boosted their target price on Trane Technologies from $175.00 to $185.00 and gave the company a neutral rating in a research note on Friday, February 3rd. Barclays boosted their target price on Trane Technologies from $200.00 to $201.00 in a research note on Thursday. Robert W. Baird lowered their price target on Trane Technologies from $200.00 to $192.00 in a research report on Thursday. Finally, UBS Group boosted their price target on Trane Technologies from $200.00 to $224.00 and gave the stock a buy rating in a research report on Tuesday, March 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $182.58.

Trane Technologies Trading Up 0.5 %

NYSE:TT opened at $176.81 on Thursday. Trane Technologies has a fifty-two week low of $120.64 and a fifty-two week high of $196.22. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 0.77. The stock has a market capitalization of $40.32 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 1.93 and a beta of 0.99. The business’s 50-day simple moving average is $181.12 and its 200-day simple moving average is $176.35.

Trane Technologies (NYSE:TT – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.08. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Trane Technologies had a return on equity of 30.11% and a net margin of 11.06%. Trane Technologies’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 EPS. Sell-side analysts expect that Trane Technologies will post 8.44 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 2nd will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Thursday, June 1st. Trane Technologies’s dividend payout ratio is 38.86%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, EVP Paul A. Camuti sold 690 shares of the company’s stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $180.64, for a total value of $124,641.60. Following the transaction, the executive vice president now directly owns 87,865 shares of the company’s stock, valued at approximately $15,871,933.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Paul A. Camuti sold 690 shares of the company’s stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $180.64, for a total transaction of $124,641.60. Following the completion of the sale, the executive vice president now directly owns 87,865 shares in the company, valued at approximately $15,871,933.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Evan M. Turtz sold 2,095 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $190.83, for a total value of $399,788.85. Following the sale, the senior vice president now owns 19,601 shares of the company’s stock, valued at $3,740,458.83. The disclosure for this sale can be found here. Insiders have sold a total of 11,550 shares of company stock valued at $2,189,462 in the last ninety days. 0.74% of the stock is currently owned by corporate insiders.

Institutional Trading of Trane Technologies

A number of institutional investors have recently modified their holdings of TT. Vanguard Group Inc. lifted its position in shares of Trane Technologies by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,490,139 shares of the company’s stock worth $2,677,558,000 after buying an additional 61,456 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Trane Technologies by 48.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,366,040 shares of the company’s stock worth $777,057,000 after buying an additional 1,745,741 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Trane Technologies by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 4,685,369 shares of the company’s stock worth $786,124,000 after buying an additional 115,545 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Trane Technologies by 56.5% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 3,790,429 shares of the company’s stock worth $549,178,000 after buying an additional 1,368,481 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Trane Technologies during the 4th quarter worth $526,026,000. 81.47% of the stock is currently owned by institutional investors.

About Trane Technologies

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Trane Technologies Plc engages in providing solutions to buildings, homes, and transportation. It operates through the following business segments: Americas, EMEA, and Asia Pacific. The Americas segment encompasses commercial heating and cooling systems, building controls, and energy services and solutions, residential heating and cooling, and transport refrigeration systems, and solutions in North America and Latin America regions.